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than half saying the uncertainty around the fiscal cliff will impact their spending and job creators are cutting back on spending and a bad deal for the economy? well, let's ask. ben stein, dagen mcdowell, charlie gasperino and gary k. want to start with you. bad deal for all of us? >> of course, look, business investment was already down last quarter over 1%, and the word uncertainty just pervades e air and its business, its consumer, how about philanthropic organizations don't no what kind of write-offs for charity and the worst the outcome is probably going to be more, and taxes are going to go up and of course there will be no spending cuts. >> and ben, it does sound ominous, even if you're not someone who reads the wall street journa the fiscal cliff, fiscal cliff, it could be the-- i don't know intimidation factor, it could actually be worse than going over the cliff. >> i think that's a brilliant point, charles. if we went over the cliff for a few months the impact would not be enormous, and uncertainty is a bad word and fear is a really, really bad words and these are the wor
, welcome to "squawk on the street" i'm carl cramer is off today. some word the fiscal cliff negotiations are not getting off to a good start. moderate red arrows. european leaders failed to reach a bailout payment to greece and will try monday. road map starts on the busiest travel day of the year. there are signs it could be a big quarter for airline and travel, but traditional toys look weak. walmart may have protesters outside its doors on friday. >> deer misses earnings, and the market shrugs it off. >> turmoil in israel with a bomb explosion on board a bus today and a rumored cease-fire that never happened. crude is up $1 as the secretary of state has arrived in cairo. a big day full of planes, trains and automobiles with tens of millions of americans set to embark on their holiday weekend journeys. our phil lebeau is in chicago with more on the holiday travel landscape. how painful is it going to be? >> you know, carl f you're traveling, you always need a little more patience thanksgiving weekend. for the airlines, they're keeping their fingers crossed because if you look at a map
's a boring pick. >> brenda: cavuto on business. >> david: ready to go fiscal cliff diving? apparently a lot of businesses and shoppers are already afraid of the fall. i'm charles payne in for neil cavuto. with the holiday shopping season underway a lot of consumers are saying no way. and more than half saying the uncertainty around the fiscal cliff will impact their spending and job creators are cutting back on spending and a bad deal for the economy? well, let's ask. ben stein, dagen mcdowell, charlie gasperino and gary k. want to start with you. bad deal for all of us? >> of course, look, business investment was already down last quarter over 1%, and the word uncertainty just pervades the air and its business, its consumer, how about philanthropic organizations don't no what kind of write-offs for charity and the worst the outcome is probably going to be more, and taxes are going to go up and of course there will be no spending cuts. >> and ben, it does sound ominous, even if you're not someone who reads the wall street journal, the fiscal cliff, fiscal cliff, it could be the-- i don't kn
. with all these variables, elections, mideast, fiscal cliff, it seems as though there's only so much flight to safety bid you can push into the marketplace. some traders say that's why you didn't notice. in the old days, it would make a difference. yields are already most accommodative from a nervousness standpoint. i will tell you it was the number one conversation. and even though it really isn't about oil, that's the market everybody is trading to of course kind of play the headlines. >> michael, how about you? how does this impact the way you're allocating capital? >> well, as you know, our strategy is about 45% in cash while the prefunctory -- what we'll have left to boost us higher. i think the market does go higher. here's why. you have $85 billion each month from the federal reserve as far as balance sheet expansion. you have negative real interest rates that will be getting even more negative. i expect inflation to take off significantly early in 2013. >> but if you're sitting on 45% cash, that says to me you're still expecting more downside here. don't you think we've already seen
't want to tip them off. we need to let this go. the fiscal cliff and jobs are far more important. >> and let's talk about the fiscal cliff and jobs. in your time in california you worked on in the state assembly, a state hit hard by a fiscal y crisis. >> i sure did. >> i want to talk to you about something you said in terms of medicare reform and medicaid. obviously republicans are saying, look, in exchange for any type of taxes going up, we want to see some real entitlement reform. you talk about cracking down on waste, fraud and abuse. is there enough revenue from waste, fraud and abuse and m medicare to get the type of serious deficit reform needed to bring down the $16 trillion debt? >> well, you know, i think anytime you're talking about a deficit, there's two ways to bring it down, and i know you know this well. you're either going to raise revenue or have cuts, and i would continue to argue for a balanced approach which means i do think you can find savings in both programs. but what i'm concerned about is what the real agenda is and the real agenda, in my opinion, is to
cliff. the markets were kind of a honeymoon today. where the traders not concerned about the fiscal cliff? what went on? >> the fiscal cliff was so widely expected is becoming a non-event at this point. the market managed to eke out a gain today. the european issue is also something on the traders minds. the emergency meeting monday, we have to resolve issue with grief that will be firs first and fort on their minds into next week. david: they're never going to resolve that issue. it will never, ever happen. i don't think they will resolve it. you bring up a great point because if worst-cas worst caseo we go over the fiscal cliff and all of those tax changes expire, we will see a tripling of the dividend tax. if that happens, so many people invested right now, you said some of them might change from issuing dividends to buying back their stocks, right? >> that will be the tax efficient way people will return money, cash to shareholders. taxes on dividends are likely to go up, so that could be more efficient place. a dividend issue we have talked about before overplayed maybe an over
friday protests are planned and sandra tracking shoppers fearing the fiscal cliff. william, from lax? >>reporter: a bad travel day is a nightmare for thousands as the fastest growing union in the country is holding a protest on the business of the travel day of the year at the third busiest airport in the country. in was designed to turn this road, way you get into lamb, into a parking lot and they have succeeded. what is bad if travelers is good for the union. they are bringing publicity to an issue that local news and the media would otherwise not cover and that is basically a labor dispute with a small company employing 400 workers. they are protesting a vote by a company, by the workers, decertifying the union, throwing them out, so to speak. >> it is frustrating because they are trying to get home to their families. on a holiday. where people want to see their family. that is crazy. no notwithstanding you. that is how i feel. >> they have something to say. the constitution protects our right to protest. doesn't it? let them do it. more power to them. >> so, they are protesting t
-- can we avoid the fiscal cliff. can we get ourselves back on the right track, if you will, without raising taxes -- without getting rid of the bush tax cuts for the wealthy? >> i think -- it doesn't add up. you get about $750 billion from loopholes. that doesn't get you near -- >> bill: bill clinton said in charlotte, it is arithmetic. >> it's math. >> bill: right. you mentioned -- i want to come back -- the other thing the republicans have put on the table, of course, is entitlement. they will only consider new revenue if democrats come forth with entitlement reform. by entitlement reform, let's be honest. they mean getting rid of medicare, getting rid of medicaid. >> structural reforms. >> bill: and privatizing social security. >> it was good to hear yesterday jay carney the white house press secretary, i don't know if you were there. taking social security off the table. it's not a problem. it hasn't contributed to the deficit. that's off the table. they're open to medicare. they've been open to changing pr
this morning. congress is back in session, and just in time, we are now 35 days away from the fiscal cliff. >> a big day in the middle east. today both israel and gaza meet to further the cease-fire between the two embattled nations. we're going to have a live report coming up for you. >> gray thursday, black friday, and now cyber monday. but just how good are the deals today, compared to what was put out this past holiday weekend? we're going to break it all down for you. >> did you do any shopping? >> absolutely not. there's too much football. >> don't you love it? >> good morning. welcome to "early start," i'm john berman. >> and i'm zoraida sambolin. 5:00 a.m. in the east. so let's get started. they are back. our lame duck congress returning to capitol hill today. the senate in session this afternoon. the house back tomorrow. and with 35 days left, as john just reminded us, before we plunge down the fiscal cliff, two prominent republican senators, lindsey graham and saxby chambliss are signaling they are willing to give a break the no tax pledge. that is a hopeful sign, folks, because
you. congress and the president have just 40 days to avoid the so- called fiscal cliff. when the ball drops on new year's eve, tax hikes and severe spending cuts will kick in automatically unless a deal is reached. wyatt andrews spoke with two men who say they know how it should be done, if only washington would listen. >> reporter: two years ago, the fiscal commission chaired by democrat erskine bowles and former republican senator alan simpson proposed every basic element of the fiscal cliff solution being discussed now. their plan was a mixture of higher taxes, lower spending and the reform of medicare and social security. both men told us sacrifice has to come from everyone. >> all of us have to have some skin in the game to get it done. >> if you want something, pay for it. it's a sick idea, but it is an interesting idea. >> reporter: their biggest idea was to increase revenue by combining both the president's demand for higher taxes on the rich and the republican proposal to get rid of tax loopholes. bowles/simpson would eliminate almost every tax deduction for individuals and c
the fiscal cliff, that once again put pressure on the markets. that's when things turned down yesterday. you'll see in europe, barely budging at this point. in france, the cac is up by about a point. the ftse is down by less than five points. in germany, the dax is up by less than three points. overnight in asia, you'll see that in japan, the nikkei was up by about .8 of a percent. the shanghai composite up by about 1%. the hang seng was up by 1.4%. oil prices also up slightly, up about 72 cents. not near the higher levels that we had seen because of the concerns in the middle east. 84.7 is where wti stands. the ten-year note is yielding 1.661%. we do have those numbers coming out. the dollar sup across the board. euro is at 1.28. gold prices this morning are indicated up just barely up by about $2.60. >>> let's go across the pond. ross westgate is standing by for us in london. ross, good morning to you. >> good morning, andrew. good to see you ahead of thanksgiving. becky called it. we're pretty flat here in europe. the dow jones being outpaced a little bit more. as you say, the focus very
of these folks are saying if we get a compromise as far as the fiscal cliff, by the end of the year this event means higher oil and gas prices, so there is a lot of indecision down here on the floor, but a volatile market with the middle east playing out. melissa: thank you so much. just in time for black friday, to survey highlights what we can expect consumers to spend this holiday season. rich edson has the story. >> americans will spend a little bit more this year, a just-released survey of holiday shopping says. the credit union national association of consumer federation of america said retail can expect a better holiday than last year, though not much better. >> our basic result is more optimistic than last year, the strongest results in the last four years, however still does not suggest a booming holiday season, but a continued improvement from the last few years. speak of a state college spending to increase from three and a half to 4% over 2011. the numbers behind that, they will spend less than last year. analysts say plenty of shoppers say they will spend less and never do. 12% ad
trouble for h-p. plus, traders are placing bets on the fiscal cliff. find out how the odds are stacking up. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's wednesday, november 21st. i'm angela miles. in today's first look: turkey tracks - trading volume is expected to be lighter than normal toward the end of the session as traders head home for the holiday. yesterday trading was a mixed bag of small gains and losses with the exception of oil, which fell $2. fed chair ben bernanke is urging lawmakers to strike a deal on the fiscal cliff sooner rather than later, otherwise the nation will return to recession. the obama administartion formally proposed new rules on healthcare, including requiring coverage for pre-existing conditions and minimum health benefits for millions. and in earnings after hours, salesforce.com rallied on better-than-expected news, while the zale fell 10% as the company lost some shine on earnings. larry shover of sfg alternatives joins us now. those reports larry of cease-fire coming
of the fiscal cliff and higher taxes. in some cases they are laying off, those are troublesome things. even if they resolve the fiscal cliff, higher taxes will mean less spending in the economy and less reasons to invest and hire more people. melissa: i don't even think resolving the fiscal cliff would make that much of a difference because businesses still face uncertainty scare them of making decisis. first it was about obamacare, and they were so upset and didn'tt to spend any money. and then the election, they still didn't want to do anything. resolving the fiscal cliff will not make them feel any better because the resolution will be higher taxes. >> absolutely. and that is where businesses throw out, chamber of commerce, is ask why they are not doing something, it is uncertainty. they ar paid to manage in uncertainty. there's just a lot of nonsense. the economy is not moving along very well. the discussions will not resolve the fundamental problem from exploding entitlements and mammoth increase in spending imposed on america and now want americans to validate, that is why they are no
of a compromise as we head for the fiscal cliff? senator lindsay graham, one of the latest high-profile republicans that says he will break the longstanding pledge regarding taxes and says he will do it for the country, but only if democrats are willing to make reforms on entitledment programs, medicare and medicaid and social security. that is big if. good morning, hope your turkey was great. martha: good morning, everybody, i'm martha maccallum. you've got this. congressman peter king and now senator bob corker say they will ignore the decades old pledge that was signed by 241 house members and senators. he says he believes it is a huge game-changer. >> when you're $16 trillion in debt the only pledge we should make to each other is to avoid becoming greece. republicans should put revenue on the table. we're this far in debt. we don't generate enough revenue. capping deductions will help generate revenue. raising tack rates will hurt job creation. bill: this is the heart of the matter. stuart varney, host of "varney & company". morning to you, sir? >> this is a real shift. one
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, obama launches p.r. effort on cliff the fiscal cliff, of course. putting pressure on congress, president will talk to small business owners. so here's what's going on. right. with this fiscal cliff looming the president has laid out -- very, very clear what he's talking about, what he wants to see. it is a $4 billion package of cuts to the deficit a combination of spending cuts and new revenue and about $2 trillion of that coming from getting rid of the bush tax cuts. at the same time while getting rid of the tax cuts for the wealthiest 2% of americans letting the tax cuts for 98% of americans continue because the middle class do need the help and the wealthiest people do not. so to get there of course, and by the way let's back up, right. the president put forth his plan on november 6th and mitt romney put forth his plan and the american people said no, we don't like that romney way of going which is to continue to coddle the rich. we agree with president obama. so now the negotiations are underway. abo
. will the white house and congress finally see eye to eye on the fiscal cliff? we're just over 24 hours from the start of bargaining time. power and protest. furious demonstrators take to tahrir square in cairo, as egypt's new president rewrites the rules. >> the crowds are rowdy, rough, and down right rude, and the holiday shopping season has only just begun. >>> good morning, everyone. i'm radi kaye. it's 8:00. from maine to florida, millions of people are heading home as the thanksgiving holiday is wrapping up. today is usually one of the busiest travel days of the year, but so far it has been surprisingly quiet. cnn national correspondent suzanne candiotti is in new york hanging out with a few travellers this morning. suzanne, good morning to you. so i guess it's still pretty early in the day, but it should probably get pretty busy there later on. >> oh, it probably will pick up, but the best news of the day at this hour, anyway, is that there are virtually no backups to check in and no lines at security. there was a little flurry of activity earlier this morning, but now it's practicall
bernanke warning of dire consequences if we go flying over the fiscal cliff, bernanke says failure to make a deal could trigger another recession. he also says the fed does not have the tools needed to stop another downturn. and they're calling it the largest insider trading case ever. sec charging him with conspiracy to commit serious fraud. reporter made $276 million in illegal profits after receiving a tip from a doctor about a new alzheimer's drug. hewlett-packard's taking a dive today in a shocking report of fraud. we will have all the details here in just a moment. but first our top story tonight, the fighting between israel and hamas continues. senator said hillary clinton met with diplomatic leaders in egypt today to hp broker a cease-fire but that did nothing to stop more missiles being fired at israel and one israeli soldier has reportedly been killed, so how close is a ground war between israel and hamas in the gaza strip? david miller is live on the border, with its latest from there? >> there was late night diplomacy, but nothing significant change resolve the conflict. over m
. >>> plus, fiscal cliff diving. the countdown to the new year is counting down to economic disaster. what will it take to reach a compromise and pull the country back from the edge before january 1st. >>> the holiday season kicking into gear. we'll take you all around the country. meantime, relative calm between israel and gaza following the cease fire did not last very long. today a clash at the poirder left one palestinian dead and 15 wounded. as usual, we are hearing two different versions of this cease fire version. we have two reporters there. aman, i'll begin with you. what are they saying about the glash at the gaza border today? >> they're saying that the palestinians, 300 of them approached the israel/gaza border on the palestinian side of it. they went there to access their farm land. that area is considered mostly essentially farm land for those families. a lot of people earn their livelihoods from there. they were going there to protest and demand that they have the right to go as far up to the border as possible. the reason why is because over the years israel has imposed a n
: the old fiscal cliff is still hanging out there. new perspective on the political implications. the risk for the president as well as democrats if lawmakers do not reach a deal. and it will cost you more to drive over to grandma's house for thanksgiving. plus, it is way beyond your control could make travel even more expensive. all coming up on "happening now." can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. time for cii price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind
" next, the fiscal cliff looms. fed chairman ben bernanke has decided he has to get involved. >>> and with cease-fire talks stalled want to tonight, secretary clinton met with the prime minister of israel. her next meeting with the man in the middle of the negotiations. try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. let's say you want to get ahead how do you get from here... to here? at university of phoenix we're moving career planning forward so you can start figuring that out sooner. ln fact, by thinking about where want your education to lead, while you're still in school, you might find the best route... leads somewhere you weren't even looking. let's get to work. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. [ male announcer
on that. >>> "outfront" next, the fiscal cliff looms. fed chairman ben bernanke has decided he has to get involved. >>> and with cease-fire talks stalled want to tonight, secretary clinton met with the prime minister of israel. her next meeting with the man in the middle of the negotiations. >>> welcome back to the second with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. [ male announcer ] good choice business pro. good choice. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> welcome back to the second half of "outfront." we start with sto
weekend. >>> 38 days now before the fiscal cliff. lawmakers return to work monday trying to cut a deal. if congress and president obama fail to reach an agreement massive tax cuts and spending cuts automatically kick in january 1. anti-tax crusader slamming chambliss. he broke with norquist no tax break pledge. he cares more about his country than the pledge. >>> there were signs truce between israel and hamas is taking hold this weekend. palestinian sources say israel has eased restriction on gaza fishermen allowing them to go up to six miles from shore. the fishermen were restricted to three miles into the mediterranean. palestinian farmers resumed tending land. hamas official say egyptian and israeli officials are expected to meet monday to discuss details of that cease-fire. >>> to egypt now where what's happening makes well, the arab spring look like it never ended. we remember the crowds of demonstrators, protesters, a regime bent on consolidating and preserving its power. that was then. this is the scene right now. demonstrators are back spending the night in tahrir square. pres
of the fiscal cliff. i don't know whether we can count on them to do it or not, but they're working on it. and we have the whole team reassembles here today. peter ogburn. >> hey. >> bill: good to you see. dan henning has been here. >> i been here man. >> bill: checking in on the phones and siprion bolling been here the whole time either. i was in turkey in istanbul. a great, great city. >> i'm going to make the obvious joke that you went to turkey for turkey. >> bill: yes. no turkey. i saw one turkey in the market in a poultry shop in the spice market, a dead turkey so they do exist. but it is a fabulous beautiful, beautiful, city. i have no idea what went on. >> yeah, if you are going to go out of the country like that just clock off. >> bill: well, believe me that's what we family cup finals last night. [ technical difficulties ] >> bill: kongman, jesse jackson, jr. has retired. john stanton will be with us. great lineup today, but first. >> some of the headlines making news on this monday. president obama and his daughter went out on saturday to a block store in arlington, v
, and businesses tend to be more worried about things like the fiscal cliff, they're more worried about the troubles in europe, they're more worried about the slowdown in china. you do have the disconnect. the big concern is which way is it going to go? who is going to win this tug-of-war? so far it's the consumer but let's hope it's not the other direction because as i said, let's hope that the businesses will eventually come around to thinking about things the way consumers are. . >> brown: nancy cohen, i want to come back to you on the question of online shopping and the changed landscape. does the rise of online shopping have a real impact on the economy or is it sort of shifting, transferring, where people buy their things? >> well, that's a very open question, partly because this is so new. the marriage and the magic of online plus brickes and mortar. i mean, there's no question people are visiting online web sites more often than they do stores. whether that adds up to incremental organic growth is a question we just don't know. remember, we're starting with all online sales from
that is productive and happy. >> and back at you all. >> thank you. >>> who do you trust more on the fiscal cliff? ben bernanke or rush limbaugh. rush thinks he holds some cards in the looming negotiations. can congress cut out the middlemen, the drama and make a deal? we will discuss next on "now." look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain, or problems passing urine.
-searching is getting serious. a naval gaze of all naval gazes. and chairman ben bernanke on the fiscal cliff. well, if it isn't mr. margin. mr. margin? don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. just unroll it, fill, top, bake, and present. that must have taken you forever! it was really tough. [ female announcer ] pillsbury pie crust. let the making begin since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ remin
chairman ben bernanke is calling on washington to strike a deal averting the fiscal cliff. he said a failure to do so could cause heavier and financial costs than the debt debacle of last year. hogstess, they will go to mediation to try to resolve their differences and save 18,000 jobs. holidays apparently such a source of financial stress 45% of those surveyed said they would rather skip. 45% use layaway programs as way to handle the financial burden. log to to fox business.com giving you the power to prosper. >> greta: obamacare may be the law of the land but that is not stopping many republican governors. they are still keeping up their fight. mary fanlon is not giving up the fight. the governor joins us. nice to see you? >> nice to see you. >> greta: tell me why don't you want to set up a stated exchange and defer to the default one? >> well, basically oklahoma said thanks but no thanks. we have a disagreement where the obama administration and the affordable healthcare act and in the state of oklahoma, they voted by a large margin, almost 65% we oppose many portions of the aff
finished relatively flat yesterday following a new warning from the central bank about the fiscal cliff. speaking to the economic club of new york, fed chair ben bernanke urged lawmakers to reach a deal to avoid the automatic spending cuts and tax increases. he said going over the fiscal cliff would pose a substantial risk to the economy. according to a new study the fiscal cliff could give 90% of americans new tax bills when the bush tax rates and some by president obama would both end. the working poor would be among the hardest hit. a tax policy center analysis showed a married couple making about $30,000 a year would on average go from receiving a $15 tax credit to owing $1400. >> wow. >> yeah. that's probably a reason to try and get something done? >> maybe we will. maybe we will. >> you would think. >> yeah. or maybe we can just talk about 2016. >> we could do that as well. how are you doing, willie? >> i'm doing well. >> good. just two weeks after the longest -- >> thanks for stopping by. >> doing well. >> you know, just two weeks after the longest, most expensive and exhausting
of the nation's top ceos, to lawmakers about the fiscal cliff. ceo of goldman sachs says what's in this deal is less important than just getting a deal done. >> going over the fiscal cliff, it will be very bad, hugely negative for the stock market, which is, you know, a source of people's wealth. people will feel poor. if we go over for a short period of time and adjust it, we can repair some of those things. but what you won't repair is people's attitudes towards the united states as a responsible debtor. >> washington playing with fire? >> yes. yes, washington is playing with fire. and you don't get -- it's not like a football game when you get the two-minute warning. they don't tell you when you have -- you only get one more chance. >> let's bring in robert, republican strategist and richa richard, a strategist. good morning to you, guys. he said if the retirement age goes up, it is secondary to getting an actual deal. so what does that say? i'll give that to you, richard, first. >> look, business leaders have actually been very strong in a balanced approach. some revenue, some entitlemen
fund people and it's horrible. >> and on your list of things not to bring up, fiscal cliff? >> it was? on the woman's day list. >> and a cool guy. >> fiscal cliff, is going to be-- >> and greg, you want to get out of here. >> i do want to get out of here. what year was the first thanksgiving celebration. 1953? i know you thought it was earlier. bob gives us all a history lesson next. ♪ homeward bound ♪ home, where my thoughts escaping, home where my music is playing ♪ ♪ where my love lies waiting silently for me ♪ ♪ starts at 6 eastern. for now we'll take you back to "the five." ♪ ♪ don't know much about history ♪ ♪ don't know much biology >> are you ready? >> oh, anyway, don't know much about history? apparently not. you're not alone. dave mccollough, one of the greatest historians thinks we're on the path to illiteracy. >> we're raising children that are by and large historically illiterate. a young woman came up to me and said that until she'd heard me speak she never understood that the original 13 colonies were on the east coast and i thought, what are we doi
's numbers are up, hopefully that helps moving into the negotiations about the fiscal cliff and all else. essentially the message in washington, we need to see a little bit of progress. >>> former governor jeb bush met yesterday with former staffers near the white house where he reportedly entertained questions about his political future. >> huh. >> according to "the national review," governor bush sat down with a number of veteran florida operatives along with mitt romney's campaign pollster. the article says mr. bush, quote, remained coy about making a run for the white house. instead deflecting the focus toward his efforts on educational reform. >> and the question is -- richard, the drudge report had the headline bush iii. are americans going to -- regardless of how qualified he is. are they going to be turned off by possibly electing a bush when you have history of bush for eight years, clinton for eight years, obama for eight years, another bush when there was actually, you know -- well, wait, bush, clinton, bush, obama, bush. >> that's probably due for another obama. i think bush
the likelihood of one of the 20 the people -- >> primaries again. now let's talk about the fiscal cliff and house and senate leaders expected to meet with the president next week and hopefully negotiations will continue. staffers reportedly have made little progress over the last week. politico is writing this saying that the gop's opening offer, the sources said would freeze the bush era tax rates, change the inflation can clated for entitlement programs, keep the estate tate at 2012 levels and overhaul of the tax code and not provide a revenue target. martin, if this is the starting point, if that's the starting point -- are republicans as serious about compromise as they claim? >> that offer's like the sticker price at a car dealership. >> with room. >> you know you won't pay that and then the big question unanswered now is will republicans budge on rates or revenue? we have to distinguish. republicans are open to increasing tax revenue by a cap in deductions, closing loopholes and so far they haven't shown willingness to moving tax rates up for upper income americans. do they talk about entit
. with level evidence of progress in striking a deal to avoid " the fiscal cliff. >> the series a tax increases and spending cuts set to go into effect next year would dramatically alter the economy. but the the joins reports. >> we must get an agreement. --athena jones.. >> this is not a done deal or a certainty if congress does nothing which they're pretty good about these days. we will go over the fiscal cliff. >> staffers have a working behind the scenes to find common ground to avoid cuts that should be concerning for everyone. >> they should be worried if we have a defense job or if we are dependent on others of the federal budget. the regulation of our food safety, and our borders being secure. or fbi. >> the sticking point is what to do about taxes. the democrats want to raise taxes for the wealthy and republicans to not. the anti-tax crusader had gotten a majority of the " law makers to pledge not to support any effort to raise taxes. >> i'm willing to recorgenerate revenue. where is below but i will not raise tax rates to do it i will cap deductions, and violates the pledge, long stor
the fiscal cliff. >> the economic confidence of both market participants and the general public will actually be influenced by the extent to which our political system proves able to deliver a reasonable solution with a minimum of uncertainty and delay. >> peter schiff says bernanke and the fed pose a bigger threat to the u.s. economy than the fiscal cliff. >> if it wasn't for his accommodation, all the qes, we wouldn't have to go over the fiscal cliff. in fact, ultimately, because of what the fed has done, we're going to have to go over a much bigger cliff as part of the solution to solve the problems that the fed helped create by allowing the government to get so big. >> is that fair, craig? >> it certainly is fair that long-term, what we've done with monetary policy could be a challenge. it could be a very big challenge. i don't think saying that if we -- if the fed hadn't done what they'd done, you wouldn't have to go off the cliff. i think you still have to deal with the fact that government spending has been too fast over the past -- well, since the recession ended. our gdp has grown at
the fed chairman to the president about thefully -- about the fiscal cliff. [ male announcer ] this december, remember -- you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. offering some of our best values of the year. >>> consumer sentiment stalls at the end of november as uncertainty grew grew. the dow is -- uncertainty grew. the dow is up 19. nasdaq down, 1. s&p is flat. >>> the labor department released the weekly jobless report a day early because of the thanksgiving holiday tomorrow. first-time claims fell by 45 41,000 but the -- 41,000. but the number remains higher than expected because of hurricane sandy. 410,000 americans filed for initial jobless benefits last week. economists had expected the number to be higher. >>> and hewlett-packard's stock is up about .5 right now. this is after a 12% drop yesterday morning. investors started the selloff after hp's announc
cutting back on business travel before the potential fiscal cliff, usa today says. one company will spend $20 billion less in the next two years if the fiscal cliff happens. >>> the boston herald reports massachusetts highway safety director is resigning. sheila burgess came under fire because her driving record includes seven accidents, four speeding violations and a ticket for not wearing a seat belt. did we mention she's the highway safety director? this week, the governor said it was a screw up his words, to hire burgess for that job. she cites health reasons for her resignation. >>> and the telegraph says the pope says in his new book that christ was born earlier than commonly thought. he says dennis small made that mistake many years ago and nobody caught it. many believe he was born between 17 bc and 200 bc. >>> good morning, and happy thanksgiving! weather outside looking very nice as we expect high pressure to build in overhead. temperatures warming up very nicely toward the afternoon a little chilly early on today. but the latter part of the
- called fiscal cliff. it airs tonight it it o'clock eastern-- a o'clock here on c-span. >> in january, our first week we were sworn into office, the president ask for an increase in the debt ceiling. i made clear at that time there would be no increase in the debt ceiling without significant cuts in spending and changes to the way we spend the american people's money. shortly after that, i was in new york and gave a speech and outlined i thought the spending cuts should exceed the amount of debt limit increase and there should be no taxes as part of this agreement. when you look at what we have been able to achieve, we have met those to standards that have been outlined. the american assistance it is time for america to deal with its spending problem and we made promises to the american people that our kids and grandkids just cannot afford. in addition, we of work with our members and listen to the american people. we have a real interest in making sure we don't get into this spot again. and we ought to have a balanced budget an image to the constitution. i think if you look at the structu
he speaks russian. >> steve: and talking about the fiscal cliff. the private talks are accelerating. and the president of the united states called mr. boehner and mr. reid over the weekend. it looks like the president is going to continue the push and meet with the ceo's tomorrow. they upon meet with irskin bowles. he was the co-chair of simpson-bowles commission . mr. bowles had a great plan. he is a democrat, that offered up 800 billion in new revenue and overhaul the tax system and changes to medicare and that's why the republicans are asking the democrats to come in and explain your deal. this plan was hatched in 2010 and everyone walked away from it and now they call bowles back up? it is late. this is what the american people are upset about. nothing gets done. >> steve: we are a month from the cliff. >> gretchen: we could have avoided the cliff if they used the plan as a starting point. americans are upset nothing gets done. >> brian: norquist is the bad guy. you should walk away from grover norquest. he said you have enough money on capitol hill and stop asking us . he's bee
the next few weeks with this looming fiscal cliff. rick: i want to talk to you more about the negotiations over the fiscal cliff in a second, but as far as the consumer confidence part of it goes -- >> yeah. rick: -- where do you think that's coming from? is it just because the election's over in people naturally sort of start or to feel a little more confident no matter who wins? >> yeah, that's exactly right. people kind of happy all the negative advertising, i live in virginia, we were just deluged with negative ads against obama and romney and all the candidates for month after month, and now you're getting a little sense of relief that we're back to normalcy. rick: you know, okay. so the role that consumer confidence can play, because i remember talking to you, gee, must have been like 2009, and the president had just taken office, and the economy was really on a downward slide. >> right. rick: and consumer confidence was low, and a lot of people like you said that that was contributing to the slide, the fact that people had such anxiety about the economy. so conversely, if people are
reflection on us all. now through january 2nd. >>> the impact of the so-called fiscal cliff could hit the country in 41 days if an agreement is not reached. the average american would see the increase of about $2,000. kristen welker is joining me from washington. hello to you, once again. >> reporter: hello. >> let's talk about negotiations and where all this stands. what's the status of things? >> we expect president obama to invite congressional leaders back to the white house in the coming days. you remember he had them here last week. they came out and struck this rare tone of bipartisanship. a lot of peel thought it was a sign of things moving in the right direction, that they could get a deal struck in a timely fashion. since then congressional aides have been trying to put meat on the bones of the deal and we are told republicans' starting offer really is not that different from where they were before the election. they are still basically saying that they want to keep the bush-era tax cuts where they are, which is completely the opposite of democrats want, which is to let the
. one is the fiscal cliff. charles, do you get the same feeling that i have, that there is a more collective will to try to avoid falling off this cliff, and to get a deal done perhaps sooner rather than later? >> i absolutely do believe that. i believe that obama has a stronger hand. because if nothing happens, you know, no one wants that to happen. and in fact, the clock is ticking in that direction at this point. so everybody has kind of an incentive to say, let's cut some sort of deal. and i do believe that that deal will eventually encompass both the revenue increases and some sort of structural realignment of some of the entitlement programs. and i think that, i actually believe that the american people put aside what the right and the left want. the american people are actually desperate to see their government be able to work. to do something, to make it happen. to not go into another situation where we have another downgrade. that is exactly the opposite of what we want coming out of this presidential election where people, i think, spoke and spoke rather clearly that we'
in washington with plenty to do trying to negotiate a solution to stave off the fiscal cliff. everyone was getting along last friday when all of the leaders met at the white house but now that it's time to deal things are getting a bit tougher. let's bring in david and steve. happy thanksgiving, guys. thanks for getting up early with us. >> good morning. >> first one to you, david, the staffers have told politico that these talks are off to a rough start and issue is, it's the same, the revenue, how to get it. what congressman tom cole said on "jansing and company" yesterday. >> important as to how you get that revenue. i was disappointed to see leader pelosi say it had to be higher rates or nothing. i don't think that's the way you begin a negotiation. >> what about the possibility of keeping the same rates but eliminating deductions for the wealthy in. >> i think that's a good potential suggestion. >> so you hear that, republicans have opened the door to revenue but not by raising taxes. is that going to be enough? might that be the compromised point? >> if you listen to the white ho
giving. this is a democratic idea. i'm interested to see what happens with the fiscal cliff. >> i think it's terrible they're taking the deduction away from the billion dollar a year hedge fund people and it's horrible. >> and on your list of things not to bring up, fiscal cliff? >> it was? on the woman's day list. >> and a cool guy. >> fiscal cliff, is going to be-- >> and greg, you want to get out of here. >> i do want to get out of here. what year was the first thanksgiving celebration. 1953? i know you thought it was earlier. bob gives us all a history lesson next. ♪ homeward bound ♪ home, where my thoughts escaping, home where my music is playing ♪ ♪ where my love lies waiting silently for me ♪ ♪ >> in washington the big story on this thanksgiving day is cease-fire on middle east. tonight on special report, this is the first day of the truce brokered by egypt and the u.s. of course, the question, how long will will it last. tensions remain high, we will have a live report from jerusalem. president obama is calling for a unity on this thanksgiving day and urging america
-up demand. can we tell yet? >> one thing i'm worried about is the fiscal cliff issue, the tax increases and spending cuts that take place january 1 unless congress and the president reach a deal. businesses have been worried about that for months. maybe consumers are start-- maybe it's starting to creep into their thinking as well. we saw a weaker consumer sentiment number last week. that's thing to watch to worry about as we wonder what the holiday season will be like. >> brown: nariman behravesh, is it strange or do things really change? on the one hand, we want people to get out and spend, but on the other hand, we still talk about over-spending and spending money people didn't really have was part of the problem that got us into this state in the first place. so what's-- that sounds like a little bit of a disconnect. where are we on that? >> well, i think neil is right in saying consumer finances are in much better shape right now. so in that sense, the kind of spending we're seeing now is more sustainable. it's healthier in a sense. debt levels are down. people are not taking, say,
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